The star is located in front of Amoeba Music on Hollywood Boulevard.
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Monday's ceremony included touching speeches from members of the rapper's family, including his sister, father, grandmother and fiancée, actress Lauren London.
"I think I speak for the entire city of L.A. when I say that we've always known that Hussle was destined for greatness," said London. "Nip would've been honored by this moment."
London, who has been vocal about overcoming the stages of grief since Hussle's death, hopes the star will serve as a sign of hope to anyone who comes across it.
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"So whenever you're in the city of angels, and you see this star, I hope that it encourages you to break away from whatever might be holding you back, and for you to run your marathon until God says that it's finished," she said.
WATCH | Nipsey Hussle's fiancée Lauren London speaks at Walk of Fame ceremony
Lauren London hopes Nipsey Hussle's star on Hollywood Walk of Fame brings 'hope' to others
Hussle was fatally shot in front of his Marathon store on March 31, 2019.
Eric Ronald Holder was found guilty of his murder in July of this year.
Besides his musical accomplishments, Hussle has also received recognition for work in the community. He worked with the L.A. City Council on projects like Destination Crenshaw - a public works effort dedicated to art and the local businesses now well under construction.
Last week, L.A. officials dedicated a new Metro station in Hyde Park in his name, not far from where his Marathon clothing store was located.
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"Nipsy Hussle was more than just a creative genius, he was committed to helping his community through savvy business moves and charitable contributions," the Hollywood Chamber of Commerce said in a statement.
WATCH | Moment when Nipsey Hussle's posthumous Walk of Fame star unveiled
Nipsey Hussle's star on Hollywood Walk of Fame unveiled on what would've been his 37th birthday